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Full-Text Articles in Law
Divestiture Of Illegally Held Assets: Observations On Its Scope, Objective, And Limitations, William T. Kerr
Divestiture Of Illegally Held Assets: Observations On Its Scope, Objective, And Limitations, William T. Kerr
Michigan Law Review
"Divestiture has been called the most important of antitrust remedies. It is simple, relatively easy to administer, and sure." This observation was made with reference to an order requiring divestiture of illegally held stock. In the context of the divestiture of illegally held assets, however, the statement is an oversimplification of myriad complex problems. This Comment will examine the difficulties encountered in eliminating the anticompetitive effects of a fully consummated merger found to have violated section 7 of the Clayton Act. No attempt will be made to assess the substantive doctrine upon which the violation in any instance was based, …
Antitrust Significance Of Covenants Not To Compete, Michigan Law Review
Antitrust Significance Of Covenants Not To Compete, Michigan Law Review
Michigan Law Review
Covenants not to compete, despite their increasing prevalence and their obvious tendency to restrain competition, have seldom been attacked under either federal or state antitrust laws. In January 1965, however, William H. Orrick, Jr., then Assistant Attorney General in charge of the Antitrust Division, noted that the Division was becoming concerned about one aspect of the problem-the taking of overbroad covenants not to compete in connection with the purchase of a competitor. He suggested that such an agreement might have anticompetitive effects under either the Sherman Act or section 7 of the Clayton Act. This note will explore the present …
The Relativity Of Economic Evidence In Merger Cases-Emerging Decisions Force The Issue, Betty Bock
The Relativity Of Economic Evidence In Merger Cases-Emerging Decisions Force The Issue, Betty Bock
Michigan Law Review
The following discussion explores the interaction between law and economics as these two disciplines relate to the issues which arise under section 7 of the Clayton Act, as amended in 1950, and examines the correlative problems implicit in the working arrangements between lawyers and economists when they are asked to counsel an enforcement agency or an acquiring or acquired company concerning the potential competitive consequences of a merger.
Government Regulation Of Bank Mergers: The Revolving Door OfPhiladelphia Bank, Alexander E. Bennett
Government Regulation Of Bank Mergers: The Revolving Door OfPhiladelphia Bank, Alexander E. Bennett
Michigan Law Review
On November 15, 1960, the second and third largest Philadelphia banks, the Philadelphia National Bank-its assets 1.09 billion dollars, its deposits 603 million dollars-and the Girard Trust Com Exchange Bank-its assets 757 million dollars, its deposits 560 million dollars-applied to the Comptroller of the Currency for approval to merge. The application stated the intention of the Philadelphia National (PNB) to acquire the Girard, including all its assets, deposits, capital, and retained earnings, thereupon to disgorge stock in a resulting bank to Girard shareholders at a ratio of 1.2875 to 1. Both Girard and PNB had a history of merger and …
Federal Antitrust Law-Mergers-An Updating Of The "Failing Company" Doctrine In The Amended Section 7 Setting, Philip Sotiroff S.Ed.
Federal Antitrust Law-Mergers-An Updating Of The "Failing Company" Doctrine In The Amended Section 7 Setting, Philip Sotiroff S.Ed.
Michigan Law Review
Even though application of section 7 has become increasingly effective, a specific exception to its coverage has been recognized by Congress and the Supreme Court. This exception is commonly referred to as the "failing company" doctrine. In short. the doctrine holds that an acquired or to-be-acquired firm which is in a "failing" condition, or the acquiring corporation, may interpose this condition as a defense to any prosecution under section 7 seeking to prevent or undo the acquisition of the failing company's stock or assets by the other. This discussion will attempt to explore the development of the doctrine, consider its …
Antitrust Laws- Judicial Relief For Violations Of Section Seven Of The Clayton Act - Disenfranchisement In United States V. E. I. Du Pont De Nemours & Co., Barbara B. Burt S. Ed.
Antitrust Laws- Judicial Relief For Violations Of Section Seven Of The Clayton Act - Disenfranchisement In United States V. E. I. Du Pont De Nemours & Co., Barbara B. Burt S. Ed.
Michigan Law Review
This comment will approach section 7 relief questions and solutions primarily in the light of du Pont's unique facts, which included a vertical stock acquisition made thirty years before the judicial proceeding plus the complicating factors of vast financial interests, numerous innocent investors and several corporate interrelationships. Thereby were posed complex problems regarding (1) parties to the relief determination, (2) interests to be affected by the decree and (3) the manner of affecting those interests.